By Daniel Lanyon on Wednesday 27 May 2020
The FSE Group, FW Capital, Mercia Asset Management and Whiterock Finance to join 70+ existing CBILS accredited lenders.
The British Business Bank has approved four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS).
The new lenders are The FSE Group, FW Capital, Mercia Asset Management and Whiterock Finance.
Principally, the BBB says the four lenders will provide financial support to smaller businesses in the Northern Powerhouse and Midlands Engine regions, as well as Northern Ireland, that are losing revenue and seeing their cashflow disrupted, as a result of the Covid-19 outbreak.
It also says that accreditation will now allow appointed regional fund managers to issue CBILS backed loans from the following regional funds – the Northern Powerhouse Investment Fund (NPIF) Debt Funds managed by FW Capital and Mercia Asset Management, the Midlands Engine Investment Fund (MEIF) Debt Fund managed by The FSE Group, and the Northern Ireland Growth Finance Fund managed by Whiterock Finance.
Keith Morgan, CEO, British Business Bank, said: “Our accredited lenders have seen an incredible demand for Covid-19 business loan schemes since they became available. Accrediting these four additional regional finance providers means further support for smaller business customers and continues the British Business Bank’s long-term objective to offer more diverse sources of finance to smaller businesses.”